Google Dict defines "Reside": Have one's permanent home in a particular place. Does "one's" mean other person's home which doesn't belong to the speaker?
Speakers and writers use one's to indicate that something belongs or relates to people in general, or to themselves in particular.
- ...a feeling of responsibility for the welfare of others in one's community.
- It seems to me a fatal illusion to expect one's children simply to reproduce one's own views.
- In your sentence “one’s” refers to people in general.